For the past two months, the price of Decentr (DEC) has plummeted. There are a number of possible reasons behind the recently seen plunge, but for Cryptocurrency traders, the main cause can be related to the coin’s fundamentals. Let’s take an in-depth look at the Decentr (DEC) price prediction for 2021.
We had a hard time finding a decent technical analysis for this coin, since the coin had a hard time getting off the ground. The coin is supposed to be a sideways coin, and it seems to be. The coin is currently working on a new blockchain explorer, and some of the new details on the explorer look interesting. The coin is currently working on a new community website as well, which should help to drive the coin up some.
bitmd is an independent blog founded in 2018, our team is comprised of blockchain enthusiasts, traders, engineers, and experienced market analysts. This is not a financial advice. All the information above is collected from different sources and is not guaranteed to be accurate. The information and data should not be an actual investment advice. We do not endorse, recommend, or promote any content produced by this blog.. Read more about dec crypto price and let us know what you think.
We utilize historical data, price analysis, RSI, RVOL, and other information about DEC to evaluate the cryptocurrency’s future movement in Technical Analysis for Decentr (DEC) in 2021.
Decentr (DEC) is an open-source, publicly accessible blockchain technology aimed at the consumer crypto loan industry. Decentr significantly alters the connection between data and economy by prioritizing local ownership of important bits of data that are often produced. According to Poloniex, Decentr’s native token is DEC, which is used to purchase and sell data.
Current Market Situation for Decentr (DEC)
At the time of writing, the DEC price was trading at $0.2476, with a 24-hour trading volume of $2,369,111, according to CoinMarketCap. DEC, on the other hand, has risen by 18.65% in the past 24 hours.
DEC also has a quantity of 80,268,580.08 DEC in circulation. DEC trades on BKEX, CoinW, Hoo, Uniswap (V2), and Hotbit at the moment.
Decentr (DEC) Technical Analysis 2021
Decentr (DEC) is currently ranked 218th on CoinMarketCap. DEC may be pushed to new heights by current development and improvements. Let’s take a closer look at the DEC technical analysis for 2021. Decentr (DECdaily )’s time frame chart is given below.
Ascending Channel Trend in DEC/USDT (Image courtesy of Tradingview)
The Ascending Channel Trend is shown in the graph above. Upward sloping parallel lines define the Ascending Channel trend. This price pattern is characterized by higher highs and lower lows. As a result, channel indicators are often employed in technical analysis to validate trends and indicate breakouts and reversals.
DEC is now trading in a $0.2476 range. If the current trend continues, the resistance level of $0.74 will be reached. Otherwise, if the break out occurs, it will fall to the $0.03 support level.
RSI Decentr (DEC)
The relative strength index (RSI) of DEC is seen in the chart below.
The RSI is still at 79.24, as seen in the graph below. As a result, this indicates that DEC’s price is overbought. This, on the other hand, demonstrates that merchants may trade without worry.
RVOL Decentr (DEC)
The Relative Volume of DEC is shown in the graph below. RVOL is a trading indicator that shows how current trading volume has changed over time when compared to previous trading volume.
In particular, it was discovered that the RVOL of DEC observed was weaker in the final week of July. Currently, DEC’s RVOL is over the cutoff line, indicating that it is one of the stronger players in the current trend.
Moving Average Decentr (DEC)
The chart below depicts DEC’s Moving Average (MA). Moving Average is a kind of technical analysis that aids traders in identifying trends.
DEC is now in a negative trend. However, the DEC price has crossed the 50 MA (short-term) and has a good probability of rising above it. It enters a bullish phase if it crosses over the 50 MA and 200 MA levels. Furthermore, a Trend reversal is a distinct potential at any moment.
Comparison between Decentr (DEC) vs Bitcoin
The price comparison between DEC and BTC is shown in the graph below.
The trend of the BTC can be seen on the chart, and DEC is going in lockstep with the trend. More importantly, this means that when the price of BTC rises or falls, the price of DEC rises or falls as well.
With the continuous improvements and updates to the DEC platform. Decentr has a bright future in the cryptocurrency industry. DEC, on the other hand, has the potential to reach unprecedented heights.
$ 0.74 is a bullish DEC price forecast for 2021. As previously said, it has the potential to achieve tremendous heights, with a price of $0.8 if investors believe DEC is a smart investment in 2021.
What exactly is DEC?
Decentr (DEC) is an open-source, publicly accessible blockchain technology aimed at the consumer crypto loan industry.
DEC may be purchased from a variety of sources.
BKEX, CoinW, Hoo, Uniswap (V2), and Hotbit are just a few of the cryptocurrency exchanges that have DEC listed.
Will DEC soon hit a new ATH?
The DEC platform has a good chance of achieving its ATH shortly, thanks to continuous improvements and enhancements.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
Decentr is an open source decentralised platform that enables developers to create, distribute and use their own blockchain-based applications without requiring them to learn complicated programming languages. Unlike other platforms, Decentr enables developing Blockchain applications in just three lines of code.. Read more about dark energy crystal crypto price prediction and let us know what you think.
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